Market activity for residential properties in the area dubbed as ”West of the Trail” in Sarasota can be expected to pick up. Summer 2014, a new community, called The Enclave, was scheduled to commence construction in this locality which is a perennial favorite destination of home buyers.
This area approximately covers the residential communities west of US 41 or the Tamiami Trail from Mound Street to Siesta Drive. It has gained market popularity principally because of its proximity to the downtown, local amenities, and the superb Gulf Coast beaches, the nearest of which are the pristine white sands of Siesta Key.
West of the Trail neighborhoods include Cherokee Park, Harbor Acres, Hudson Landings, Laurel Park, Lincoln Park, McClellan Park, Oyster Bay, Southpointe Shores, and The Landings. Many home searchers also prefer these communities because of their Florida village ambience which contrasts with the more contemporary feel in such developments as Lakewood Ranch.
Fort Myers-based Park Shores Homes will more or less develop The Enclave in consonance with current West of the Trail communities. Initially, the developer will construct just a dozen two-story homes in the nearly 1.5-acre community site between Osprey Avenue and the Siesta Drive drawbridge to Siesta Key.
The residences will feature architectural designs reminiscent of a West Indies style with and sloping metal roofs and breezy porches. Their floor plans will range from 2,200 to 3,000 square feet and price points at between the $800s and over $1 million.
Activity has been vibrant in recent months for available properties at West of the Trail, with ownership of some 25 properties changing hands since late December 2013. Significantly, most of the properties in the area are selling well above their pre-recession levels, unlike in most other local markets.
Two spec homes both priced around $1.3 million are among the recent closed sales at the West of the Trail. Encouraged by the price uptick in the locality, some builders have notably been tearing down old houses to give way to new dwellings.
Resale homes are moving relatively quick as well, as shown in Harbor Acres where out of the three properties currently available, two are already on the pending sales list.
For more numerous options, Oyster Bay would be presently ideal for home searchers. The MLS of Sarasota homes for sale currently lists about a dozen available residences in this community which is regarded as among Sarasota’s first luxury waterfront real estate developments.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>